24 February 2021 | News
At the beginning of 2021, Schiphol Area Development Company (SADC) developed a Sustainability Finance Framework and engaged Sustainalytics, a leading provider of environmental, social and governance research, ratings and data firm, to provide a second-party opinion. With a positive opinion of the Sustainability Finance Framework in place, SADC is now ready to attract sustainable finance to realise its current and future ambitions for area development.
The Sustainability Finance Framework comprises the Green Bond Principles and Social Bond Principles established by the International Capital Market Association (ICMA). Using the Sustainability Finance Framework, bonds can be issued to finance or refinance a combination of green and social projects. SADC engaged STX Fixed Income to support the process and draw up the framework.
Benjamin Langman (STX Fixed Income): “In the capital market, we see a strong interest in and demand for sustainable projects and institutions. Pension funds and insurance companies are actively and increasingly looking for investments that have a sustainable character. This can lead to better terms for parties seeking finance. With this Sustainability Finance Framework, SADC will be able to make use of these financing opportunities via STX in the future.”
SADC has the ambition to be a frontrunner in the development of circular work locations. This can only succeed through intensive cooperation with businesses, developers, and investors. Developed last year, SADC’s Sustainability Finance Framework covers a number of project categories. From sustainable area development and transportation to pollution prevention and socio-economic development.
The Sustainalytics review concluded that the framework is in line with the four core components of the Green Bond Principles and Social Bond Principles. Sustainalytics: “SADC’s sustainability strategy is anchored in its business model and code of conduct. We believe that SADC demonstrates its commitment to sustainability by contributing to the transition to a circular economy. The framework is transparent, impactful and in accordance with SADC’s sustainability strategy.”
Arno Jansen (SADC): “We see the Sustainability Finance Framework as an essential element of our business operations. In addition, the framework enables us to explore Green financing opportunities on the capital market, so that both now and in the future we can continue to realise our ambitions for sustainability.”